Markets News Stocks 

Dropbox shares close up 35 percent in biggest tech debut since Snap

“As a public company Dropbox will be under pressure to quickly trim its losses” writes Reuters Editorial for reuters.com. Dropbox’s much-awaited debut ended a long dry spell in the U.S. IPO market for big tech names.The solid first-day pop came despite weakness in the wider U.S. stock market.The pop in Dropbox’s price may bode well for Spotify, valued at roughly $19 billion in the private market.At the stock’s opening price, Dropbox had a market valuation of $12.67 billion, well above the $10 billion valuation it had in its last private funding round.
 
Source: reuters.com



Share This:

Related posts